Speaking at the inaugural session of the 15th SAARC summit that started off at Colombo today, Koirala opined that the problem of poverty and unemployment can be eradicated if the SAARC countries focused on economic development.

He is leading a 35-member delegation to attend the summit, he pointed the need to make a joint effort by the SAARC members for the development of the region.

According to Kantipur, Koirala further said that the energy problems of the region can be reduced if investments were increased in Nepal s hydropower sector.

He said the swift political development in Nepal has overshadowed the economic development. Koirala further suggested that the entire South Asian region should be made an economic centre.

He also said that King Gyanendra himself assisted in the establishment of a republican setup in Nepal .

Koirala added that Nepal has already elected the new President after the historical Constituent Assembly (CA) election and a new consensus government would be formed at the earliest. (ANI)